Monthly Archives: December 2021

The Renewables Infrastructure Group December 2021 Quarterly Dividend.

The Renewables Infrastructure Group (TRIG PLC) pays out its quarterly dividend.

Home – TRIG (

£0.0169 a share.

The total number of Ordinary Shares in issue on Admission will be 2,267,246,415


2,267,246,415 x £0.0169 = £38,316,464.4135

£38million of cash paid to shareholders.

HM Government Borrowings: November 2021

Another month, guess what, take a lucky guess, it is the same old story, HM Government, spends more money than it receives via taxes and duties.
Now we are in a Covid 19 world. UK’s HM Government needs to fund many new demands. []

Another deficit month, thus to bridge the gap, needs to borrow on the bond market In November 2021, the HM Government had to borrow money to meet the difference between tax revenues and public sector expenditure. The term for this is The PSNCR: The Public Sector Net Cash Requirement. There were “only” 5 auctions of Gilts (UK Government Bonds) by the UK Debt Management Office to raise cash for HM Treasury:-

16-Nov-2021 0 7/8% Treasury Gilt 2046 £2,170.3750 Million
10-Nov-2021 0 1/8% Index-linked Treasury Gilt 2031 3 months £900.0000 Million
03-Nov-2021 0½% Treasury Gilt 2029 £2,500.0000 Million
02-Nov-2021 0¼% Treasury Gilt 2025 £3,000.0000 Million
02-Nov-2021 1 5/8% Treasury Gilt 2071 £1,533.7500 Million


£2,170.3750 Million + £900.0000 Million + £2,500.0000 Million + £3,000.0000 Million + £1,533.7500 Million = £10,104.125 Million

£10,104.125 Million = 10.104125 Billion

Another way of looking at it, is in the 30 days in November 2021, HM Government borrowed: £336.8041666666667 Million each day for the 30 days.

We are fortunate, while the global banking and financial markets still has the confidence in HM Government to buy the Gilts (Lend money to the UK), the budget deficit keeps rising. What is also alarming, is the dates these bond mature from 2029 through to 2071. All long term borrowings, we are mortgaging our futures, but at least “We Are In It Together…”

John Midwinter obituary

Courtest of The Guardian

Engineer who shaped the development of the first optical fibre communications systems, making the UK a leader in the field

ohn Midwinter, who has died aged 83, did much to transform telecommunications from a simple phone-based service in the 1970s to the full broadband and internet network that we have today. Before such services came from the privatised British Telecom, the state provider was the General Post Office: during John’s time at the GPO research laboratory (1971-84), he shaped the understanding, design and development of the first optical fibre communications systems and their introduction into the UK network.

In the process he helped Britain lead the world in establishing optical communications as a fast-moving and competitive research area.

When, in 1966, Charles Kao of Standard Telecommunication Laboratories proposed the idea of optical fibres – strands of glass as thin as a hair carrying communications traffic – the challenges were huge, and struck many as insurmountable. A full system called for the design of optical transmitters and receivers, reliable lasers to generate pulses of light, techniques to modulate and demodulate data, and a better understanding of the physics of data-carrying optical pulses propagating in glass.

However, John, as head of what became the GPO’s optical communications division, set about developing a complete system carrying live traffic. In 1977 the world’s first optical fibre system was installed between Martlesham and Kesgrave, in Suffolk, with members of his research team splicing fibres in the snow, sleet and rain, to successfully demonstrate the transmission of data over approximately 8km of fibre.

The next problem was to significantly extend the length of these systems. This involved the use of mono-mode fibres of a much smaller diameter core, supporting a single path for the light to follow. Data-carrying pulses of light could be prevented from spreading, so allowing much higher data rates over longer distances.

This went against conventional wisdom, which held that it would be impossible to join such thin, fragile fibres. However, by the early 80s, John’s group achieved this feat, sending data at four times the rate over a distance of 60km.

British Telecom, as it was from 1980, stopped all work on competing technologies and in 1984 became the first telecommunication operator to switch entirely to single-mode fibre systems. The rest of the world soon followed, with the help of John’s textbook, Optical Fibres for Transmission (1979). As a result of his work, today more than 95% of all data is transmitted over optical fibres and more than 500m kilometres of fibre are installed each year on land or under the sea.

In 1984 Eric Ash, head of the department of electronic and electrical engineering at University College London, recruited John as BT professor of optoelectronics. At UCL John focused his research on exploring whether photons could be used to carry out processing functions in order to design, for example, an optical computer. But while photons were excellent for transmission, electrons proved better for switching and other digital functions.

By the early 90s, John returned to research on optical communications, exploring the use of multiple wavelengths or colours for the routing of optical information. He was elected to the fellowship of Engineering (now RAEng) and appointed OBE (both 1984), and became fellow of the Royal Society (1985).

He succeeded Ash as head of the department in 1988 and a year later became Pender professor of electrical engineering (the Victorian cable pioneer Sir John Pender endowed the chair in UCL in 1885). John also served as vice-provost of UCL (1994-99) and president of the Institution of Electrical Engineers (2000-01), and retired as emeritus professor in 2004.

John was calm, logical, efficient in all ways, encouraging and respectful of well-reasoned opinions. The concept of procrastination was alien to him, and he was always supportive and generous with advice.

Born in Newbury, Berkshire, he was the son of Vera (nee Rawlinson) and Harry (Henry) Midwinter. As Harry belonged to the fourth generation of Midwinters to run a corn merchant’s business, it was expected that John would follow this path. At St Bartholomew’s grammar school, John was a bookish child who hated team sports, and showed early aptitude for engineering, building model aircraft and cars in his spare time.

Following school, John volunteered for national service with the RAF. There he became a radar instructor and broke with family tradition by going on to study physics at King’s College London, where he gained a first-class degree (1961).

His first job was with the Royal Radar Establishment, Malvern, Worcestershire, carrying out research in nonlinear optics, which led him to work on the first ruby laser in the UK. He continued this research with the Perkin-Elmer corporation in the US, and in 1971 returned to the UK to take up his GPO post.

John met Maureen Holt through ballroom dancing as a teenager, and they married in 1961. Together they enjoyed travelling, hiking, planting their meadow, sharing a love of classical music and looking after several generations of Labrador dogs. In retirement, John became a passionate advocate for mitigating climate change, lecturing widely for the University of the Third Age (U3A).

Maureen survives him, along with their four children, Timothy, Philippa, Kim and Piers, and five grandchildren.

John Edwin Midwinter, optical fibre communications engineer, born 8 March 1938; died 13 November 2021

Royal Dutch Shell PLC December 2021 Quarterly Dividend

Today the Oil Major Royal Dutch Shell pays out it’s quarterly dividend to shareholders.

Dividends on A Shares will be paid, by default, in euros at the rate of €0.2121per A Share. Holders of A Shares who have validly submitted US dollars or pounds sterling currency elections by November 26, 2021 will be entitled to a dividend of US$0.24 or 18.06p per A Share, respectively.

Dividends on B Shares will be paid, by default, in pounds sterling at the rate of 18.06p per B Share. Holders of B Shares who have validly submitted US dollars or euros currency elections by November 26, 2021 will be entitled to a dividend of US$0.24 or €0.2121per B Share, respectively.

Royal Dutch Shell plc’s capital as at November 30, 2021, consists of 4,101,239,499 A shares and 3,613,350,274 B shares, each with equal voting rights. Royal Dutch Shell plc holds no ordinary shares in Treasury.

The total number of A shares and B shares in issue as at November 30, 2021 is 7,714,589,773


7,714,589,773 x £0.18065 = £1,393,640,642.49245

That is £1,393 million = £1.393 Billion cash paid to shareholders of Royal Dutch Shell A, and Royal Dutch Shell B

BP PLC December 2021 Quarterly Dividend

Today the Oil Major BP pays out it’s quarterly dividend to shareholders.

4.1045p a a share = $0.0546

The total number of voting rights in BP p.l.c. is 19,763,848,008


19,763,848,008 x £0.041045 = £811,207,141.48836

That is £811 million cash paid to shareholders of BP PLC

VH Global Sustainable Energy Opportunities

The VH Global Sustainable Energy Opportunities invests directly in energy infrastructure that have a high impact value and align with the United Nations Sustainable Development Goals

The Company’s investment policy states that it aims to achieve diversification principally
by making a range of sustainable energy infrastructure investments across a number of distinct geographies and a mix of proven technologies that align with the UN Sustainable Development Goals (‘SDGs’) where the investments are a direct contributor to the acceleration of the energy transition towards a net-zero carbon world.
The Company’s investment in proven technologies will include exposure to power generation (renewable and conventional), biomass, transmission, distribution, storage and waste to-energy. These investments will be operational, in construction or ‘ready-to-build’ but will not include assets that are under development or are in pre-consent stage. Successful IPO raising £242.6m in February 2021

The M&G Climate Solutions Fund.

The fund has two aims: to provide combined capital growth and income that is higher than that of the MSCI World Index
over any five-year period; and to invest in companies that aim to deliver solutions to the challenge of climate change. At
least 80% of the fund is invested in the shares of companies from any developed market. The fund usually holds shares in
fewer than 40 companies

Fund size: £19.97 million

The largest holdings are:-

Linde 4.5% of the fund
Johnson Controls International 4.4% of the fund
Republic Services 4.3% of the fund
Ball 4.1% of the fund
EDP Renovaveis 3.9% of the fund
Darling Ingredients 3.9% of the fund
Autodesk 3.7% of the fund
Westinghouse Air Brake Technologies 3.6% of the fund
Schneider Electric 3.5% of the fund
Equinix 3.5% of the fund

The fund is split across these asset classes:-

Green technology 43.1% of the fund
Clean energy 26.9% of the fund
Circular economy 26.0% of the fund
Cash 4.0 % of the fund

M&G Climate Solutions Fund | M&G Investments (

The Closure of P2P Lending on Zopa.


Stopping P2P consumer investments at Zopa

After 16 years of peer-to-peer (P2P) consumer investments at Zopa, we’ve taken the difficult decision to close this part of our business. We’re committed to making the process as easy as possible for you. To support this, Zopa Bank will be buying your entire loan portfolio at current face value without any of the fees you’d normally pay for a loan sale. You’ll receive your investment balance back by 31 January 2022.

We’ve informed our regulators, the FCA, of our decision.

What this means for you  

We deliberated over a number of options for how to close the P2P side of our business and we believe the sale of your portfolio in full represents the best outcome for our customers. Crucially, this will lock in the returns you’ve already earned and ensure your funds are available to withdraw from your holding account in a timely manner.    

Zopa’s purchase of your portfolio will happen in stages, starting in December with your newest loans and completing no later than 31 January 2022 with the oldest loans.  

We’ll purchase your loans at face value, so you’ll receive the balance you have invested in loans back in full plus of course any interest that borrowers have already paid up to the date of sale. The money will be directed to your Zopa holding account and we’ll send you a confirmation email at each stage of the sale, so you can withdraw your money as it comes in. Once the loan sale has been completed, our Innovative Finance ISA (IFISA) customers will need to request an ISA transfer to a new provider to retain their tax-free wrapper

Why we’re doing this     

We’re proud that our prudent, data-led model has achieved consistent positive returns for investors. Throughout our history we’ve delivered returns in line with target, including during the last two years, where we’ve delivered an average return of 3.9%.  

Sadly, over the last few years, customer trust in P2P investing has been damaged by a small number of businesses whose approach led to material losses for customers investing in those platforms. Linked to this, the changing regulation in the sector has made it challenging to grow and remain commercially viable. We’ve therefore decided to fully focus on Zopa bank and we will be closing the P2P business with effect from 7 December.   

Since the Bank launch in June of last year, we’ve already seen strong — and growing — demand for our new products. That early success shows that we’re able to help more people by providing a wider range of innovative financial products like our award-winning credit card and fixed term savings accounts, which many investors have already opened. Once the sale of loans is complete, investors will have access to an exclusive savings option from Zopa Bank. 

How will my investments work in the meantime?       

From today, we’re going to stop matching investor funds with loans, so all repayments will be directed to your holding account until the purchase goes through. Any money that’s currently in the queue will be automatically returned to your holding account. 

We’re also going to be stopping loan sales. We’ve decided to do this as we don’t think it’s in customers’ best interests to do a loan sale now. If you were to perform a loan sale today, you’d be paying a 1% fee as well as any market rate adjustments to access part of your investment that you’ll be receiving back within weeks, with no fees to pay. For more on how investments will be impacted, check out our FAQs. 

Updated FAQs and information centre        

We expect our customer service agents to be very busy, so it may take them longer than normal to get back to you. To help you during this time, we’ve made lots of additional information available at the bottom of this email, through our FAQs and in the  information centre, so please check these out if you have any immediate questions. The  Zopa Principles (Section 14 – Contingency planning) includes information on our right to sell your loan portfolio.

Finally, thank you      

As the world’s first peer-to-peer platform, this has been an incredibly difficult decision, and one only taken after lots of deliberation. At Zopa, we’re very proud of our peer-to-peer DNA and are honoured that over 90,000 of you joined us on this journey over the last 16 years. We hope that you’ll stay with us beyond your investment’s draw down and into the next chapter at Zopa.

The L&G ESG Green Bond UCITS ETF

The L&G ESG Green Bond UCITS ETF is a London Listed ETF that holds green bonds. The L&G ESG Green Bond UCITS
ETF aims to provide exposure to green bonds across developed and emerging markets. Green bonds are issued in order to fund projects
that have positive environmental outcomes and/or climate benefits.